The Indian origin student of Northwestern University missing since an off-campus party early Saturday has been found dead at a lake near Wilmette Harbour Thursday night.

Harsha Maddula, an 18-year-old sophomore at the university was last seen Saturday around midnight leaving a party. He was a diabetic and the family described him as a studious, A-grade student.

At a News Conference Thursday Night, university spokesperson Al Cubbage said University Police was notified around 7 p.m. that a body was found in Lake Michigan along with the Northwestern ID card and cell phone. He also said that officials have ruled out foul play.

Reportedly, the body was found by a fisherman.

According to student newspaper The Daily Northwestern, Wilmette Police investigators have not yet determined the cause of death.

However, it is still a mystery why was his body not found the previous day when the lake was searched by 21 law enforcement agencies and fire departments.

"Why the body was found today and not yesterday during the extensive search that occurred? I don't know the answer," Cubbage said, referring to the Wednesday's search.

Maddula was pronounced dead at 10:45 p.m., according to the Cook County medical examiner's office. The report does not list any indication of trauma, but that information could be included in an autopsy later, Daily Northwestern reports.

Cubbage also said that last ping of his cell phone was 'consistent with someone walking' from the off-campus to the area surrounding Wilmette Harbor.

The news came as a shock to Maddula family, as just hours before they had announced a reward money of $25,000 to anyone leading to Maddula and were preparing to seek help from White House.

In a statement, Northwestern University President Morton Schapiro conveyed his 'deepest sympathies' to Maddula's family and friends.

"Our hearts and thoughts are with them. The loss of one member of the Northwestern community deeply affects us all," the statement reads.